Polymarket was once a niche crypto platform. Now, the startup is moving into the ranks of mainstream finance thanks to a $2 billion investment from trading giant Intercontinental Exchange. Under the terms of the deal, announced on Tuesday, the investment will value the company at $9 billion, and the parent company of the New York Stock Exchange will distribute the prediction market’s data.
The two companies will also work together on tokenization initiatives, or the act of putting financial assets into blockchain wrappers, according to a press release. The Wall Street Journal first reported Intercontinental Exchange’s investment into the prediction market. The investment is in cash, per the release.
